Aspiro subsidiary signs letter of intent with key customer in Europe

Aspiro’s subsidiary Rubberduck Media Lab, a leading provider of mobile TV and video services for network operators and broadcasters worldwide, has signed a letter of intent to upgrade one of its managed services in Europe. The agreement is estimated to be worth 40-50 MSEK.

The letter of intent describes the delivery of additional services to one of Rubberduck Media Lab’s key customers, and the upgrade of capacity to serve growing volumes of simultaneous viewers. The customer, which is a global Tier 1 carrier, has seen a healthy uptake of mobile TV viewership for live sporting events in its European markets and will order this upgrade to serve the growing appetite from the end-users. The agreement has an estimated value of 40-50 MSEK in additional revenues to Rubberduck Media Lab over the next two and a half years. The final agreement is expected to be signed within a few weeks. - This deal is certainly a key consolidation of what has been this far a very successful partnership, but more importantly it is a signal that carriers are investing in mobile TV despite global economic conditions. It also represents substantial revenue growth within our Mobile TV business unit, which is a key growth area for Aspiro, comments Gunnar Sellæg, CEO of Aspiro. This information is mandatory for publication by Aspiro AB (publ) pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication at 8:30 a.m. on 8 December 2009.

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